(35 ILCS 200/31-45)
The following deeds or trust documents shall be
exempt from the provisions of this Article except as provided in this Section:
(a) Deeds representing real estate transfers made before January 1, 1968,
but recorded after that date and trust documents executed before January 1,
1986, but recorded after that date.
(b) Deeds to or trust documents relating to (1) property acquired by any
governmental body or from any governmental body, (2) property or interests
transferred between governmental bodies, or (3) property acquired by or from
any corporation, society, association, foundation or institution organized and
operated exclusively for charitable, religious or educational purposes.
However, deeds or trust documents, other than those in which the Administrator
of Veterans' Affairs of the United States is the grantee pursuant to a
foreclosure proceeding, shall not be exempt from filing the declaration.
(c) Deeds or trust documents that secure debt or other obligation.
(d) Deeds or trust documents that, without additional consideration,
confirm, correct, modify, or supplement a deed or trust document previously
(e) Deeds or trust documents where the actual consideration is less than
(f) Tax deeds.
(g) Deeds or trust documents that release property that is security for a
debt or other obligation.
(h) Deeds of partition.
(i) Deeds or trust documents made pursuant to mergers, consolidations or
transfers or sales of substantially all of the assets of corporations under
plans of reorganization under the Federal Internal Revenue Code or Title 11 of
the Federal Bankruptcy Act.
(j) Deeds or trust documents made by a subsidiary corporation to its
parent corporation for no consideration other than the cancellation or
surrender of the subsidiary's stock.
(k) Deeds when there is an actual exchange of real estate and trust
documents when there is an actual exchange of beneficial interests, except that
that money difference or money's worth paid from one to the
other is not exempt from the tax. These deeds or trust documents, however,
shall not be exempt from filing the declaration.
(l) Deeds issued to a holder of a mortgage, as defined in Section 15-103
of the Code of Civil Procedure, pursuant to a mortgage foreclosure proceeding
or pursuant to a transfer in lieu of foreclosure.
(m) A deed or trust document related to the purchase of a principal
residence by a participant in the program authorized by the Home Ownership
Made Easy Act, except that those deeds and trust documents shall not be
exempt from filing the declaration.
(Source: P.A. 91-555, eff. 1-1-00.)